The venture funds AVentures Capital and Insoft Capital have sold a majority stake in the IT company CoreValue, according to a press release from AVentures. CoreValue was purchased by IT Kontrakt, one of the leading IT outsourcers in the Central and Eastern Europe region, owned by Oaktree Capital Management and Cornerstone Partners Investments. The sum of the transaction is not disclosed.
“The integration of CoreValue into the IT services competency platform is a very important step for us in creating a global IT outsourcing platform. The company proved its potential and strong technological competence by providing services to large customers in the highly competitive U.S. market,” the board chairman of IT Kontrakt, the executive chairman of IT Services Competence Platform, Tomasz Pyrak, said.
CoreValue is an IT outsourcing company based in the United States. The development centers of the company are located in Ukraine and Poland. It was founded in 2004. It has grown to 400 people and delivers solutions to Fortune 500 companies, as well as to medium and large enterprises in the United States and Europe. CoreValue’s competence includes CRM-based services, cloud and mobile applications for such industries as Pharmatech, Healthcare and Finance.
AVentures Capital bought a minority stake in CoreValue in 2017.
